SEOUL: At Samsung Electronics Co Ltd , demand for its chips from data centres bulking up to meet a surge in work-from-home traffic was not likely enough to offset muted sales of its smartphones in the second quarter, analysts said.
Work-from-home orders and growth in online learning is underpinning chip demand amid the COVID-19 pandemic, prompting US DRAM supplier Micron Technology Inc to forecast strong quarterly revenue last month. "With improved demand, a spike in DRAM prices helped Samsung continue with a solid performance in the second quarter," said analyst Park Sung-soon at Cape Investment & Securities.Those price increases were likely driven by data centres stockpiling chips and so are unlikely to continue, analysts said. Though DRAM prices jumped 14 per cent in the quarter, they were flat in June versus May, showed data from DRAMeXchange.
In smartphones, Hyundai Motor Securities estimated Samsung's operating profit fell 16 per cent in April-June.
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